300,791 square foot regional center owned by Continental Realty Corporation
Automotive parts and accessories retailer AutoZone, Inc. (NYSE: AZQ) and MY SALON Suite, a franchise group that provides hair cutting and related haircare services, have signed leases with Continental Realty Corporation (CRC) totaling more than 15,000 square feet of space at Centre at Hagerstown, a 300,791 square foot regional shopping center in Hagerstown, Maryland. Melissa Sweeney, CRC’s Commercial Leasing Manager and Mason Bernstein, Vice President, KLNB Retail, represented the landlord in both transactions.
CRC, a Baltimore-based real estate investment and management company, acquired Centre at Hagerstown in 2019. The property, located at 17850 Garland Groh Boulevard in Hagerstown, is anchored by Burlington, Home Goods, Marshalls, PetSmart, Regency Furniture, 2nd & Charles, and Party City.
MY SALON Suite franchise owner Deepak Mokha signed a 6,509 square foot lease at Centre at Hagerstown and expects to be operational early next year. The national concept offers hair cutting, hair extensions and highlighting services; conditioning treatments to combat hair loss; facial and skin treatments; waxing; massage therapy; manicures, pedicures, and make-up services. Stylists and beauty technicians operate as independent contractors and can take advantage of a concept in which they control all aspects of their business, including costs of services, hours of operation and individual branding. The franchisee oversees all facility management, including repair and maintenance, and pays all operational expenses. Todd Shugarman, Principal, Green Light Retail Real Estate Services, represented the tenant.
AutoZone, with more than 7,000 stores worldwide, bills itself as the largest retailer and distributor of automotive replacement parts and accessories in the Americas. Each stores carries a product line for cars, sport utility vehicles, vans and light duty trucks, including new and remanufactured automotive hard parts. The company has opened nearly 100 new stores this year. Nancy Catron, Principal, Catron Real Estate, Inc., represented the tenant. The store is expected to open early next year.
Positioned at the intersection of Interstate 81 and National Pike (US Route 40), Centre at Hagerstown includes 10pad sites with direct roadside visibility from both highways. These sites are predominantly leased and occupied by national fast-casual and quick-service restaurant brands. More than 54,000 people reside within a three-mile radius of Centre at Hagerstown, with average household income exceeding $60,000.
More than 64,000 vehicles pass Centre at Hagerstown per day via Interstate 81, and the center also features a signalized entrance on US Route 40. Shadowing the shopping center are The Home Depot and Walmart Supercenter, both of which feature an abundance of free parking. There are also numerous business communities in the immediate vicinity. All told, the daytime population within a three-mile radius of Centre at Hagerstown swells to nearly 30,000 people.
Hagerstown is the county seat of Washington County, and it ranks as the sixth largest incorporated city in the State of Maryland. The Hagerstown-Martinsburg Metropolitan Area extends into West Virginia, with a collective population of approximately 270,000 people.
“Our goal with the tenant mix at Centre at Hagerstown is to fulfill the daily and weekly needs of local consumers, as well as provide compelling reasons to regularly visit,” stated Kristina O’Keefe, CRC’s Vice President, Commercial Division. “It is important to create differentiation from other area shopping venues, and these two stores bring highly distinctive product and services offerings, as well as complement the existing tenant lineup. AutoZone and MY SALON Suite fill a recognizable void in this section of Hagerstown, have a strong track record of success and will be tremendous long-term additions to the center.”
Headquartered in Baltimore, Maryland and founded in 1960, Continental Realty Corporation is a full-service commercial real estate and investment company focused on acquiring and operating retail and multifamily properties. The privately held firm owns and manages a diversified portfolio of retail centers consisting of nearly eight million square feet of commercial space and over 9,000 apartment homes across 11 states, with a portfolio value exceeding $3.7 billion. For additional information, visit www.crcrealty.com.
